Zomato raises Rs 456 cr from Temasek subsidiary MacRitchie Investments

In a fresh funding round, foodtech company Zomato has raised Rs Rs 456 crore from MacRitchie Investments, a subsidiary of Singapore-based Temasek Holdings.
 

Business Standard had earlier reported in August that the Bengaluru-based company was planning to raise capital from MacRitchie by allotment of 15,188 shares.
 

According to data filed with the Ministry of Corporate Affairs sourced from business intelligence platform Tofler, MacRitchie Investments has picked up these shares by paying a premium of Rs 2.93 lakh per share and with a nominal amount per share of Rs 6,700.

 

The funding comes at a time when HSBC Global Research has valued the food delivery firm at $5 billion, a major increase from its earlier valuation of $3.5 billion.
 

According to a report ‘State of the Restaurant Industry in India released by Zomato last month, the food delivery industry has largely recovered, with the sector clocking around 75-80 per cent of pre-Covid gross merchandise value (GMV) .
 

In the report, Zomato said it has delivered 70 million food orders since lockdown started on March 25. It estimates that between other food aggregators and direct restaurant channels, Indians have ordered 200 million times since the lockdown. It said there have been zero reported cases of Covid-19 transmission due to food delivery.